Make it into a video for your customers.īusinesses such as Apple and Sony have used innovation as a competitive angle, IKEA boasts of its ability to provide superior furniture at affordable rates and these stories are always reflected in their marketing schemes. Offer better courier service than business B.Got a celebrity on your team or some smart-ass on the team? Tell your customers.Business B products are not totally safe and yours is eco-friendly? Tell your customers.Business A uses cheap packaging and yours is more alluring? Tell your target customers.Responsiveness to customer complaints, inquiries.Your competitive angle for an amazing marketing story can be any of the following: Dig deeper and find untapped subcategories in your market, sell to that core customer then expand. Key Takeaway: If you're starting a business in a market that has established competitors, you need to niche down to strive then win it. Right now, Red Bull can be found in almost every athletic or sports events holding a market share of 50 percent in Canada and 46 percent in the US as at 2011. So, Mateschitz went back to the drawing board and laser-targeted a market segment (students) and marketed to them relentlessly by sponsoring events, throwing campaigns, devotional social media challenges.īy targeting a specific market, Red Bull was able to build a following, sales skyrocketed and growth exploded.
Consumers could not decide if Red Bull was a sports stimulant or a soft drink. Co-founder Dietrich Mateschitz started his little-canned drink with no specific market in mind, and even with no competition in the energy drink industry, sales were slow. Recognizing and marketing to the basic consumers allow for quick sales, more revenue for marketing and the ability to grow a following.Ī perfect example can be found in Red Bull.
Basic consumers can range from college students to a particular demographic. To compete and beat bigger rivals in the industry, SMB's need to focus on their basic consumers.
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